M&G, Homes England, Bristol City Council, Linkcity and Yarlington have joined forces to deliver Bristol’s highest resi tower.
The partnership will see a 26-storey resi tower with 375 homes on the site of the former ambulance station.
M&G will forward-fund and own 300 build-to-rent homes, with Yarlington picking up the remaining 75 affordable homes. Homes England and Bristol City Council are joint landowners and the buildings are being developed by Linkcity, a subsidiary of Bouygues.
The scheme will span 180,000 sq ft overlooking Castle Park. It was designed by architect Chapman Taylor.
M&G placed the site under offer last May. The redevelopment of the site has been long in the offing. Bristol Council and the Homes and Communities Agency pooled their landholdings to assemble the site in 2014, with Grainger the first to go under offer in 2015, although the site did not then have planning consent.
Plans were approved at the end of 2017. Bouygues UK has been contracted for the build, which will begin this month, with completion expected in 2022.
Alex Greaves, head of residential investment at M&G Real Estate, said: “This deal offers a strong opportunity to take advantage of a constricted supply pipeline and the considerable demand for high-quality rental accommodation in the city.
“Bristol is seen as a gateway to business in the South West and with a burgeoning creative sector, there is a real need to provide good-quality, accessible housing with the flexibility that this development will offer.”
Linkcity managing director Nicolas Guérin added: “Reaching financial close on this fantastic city-centre project is a great achievement for Linkcity, paving the way for the regeneration of a brownfield site into high-quality new homes for Bristol.”
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